1,071,717 Shares in The Hartford Insurance Group, Inc. $HIG Purchased by Caisse de depot et placement du Quebec

Key Points

• Caisse de dépôt et placement du Québec purchased 1,071,717 shares of The Hartford Insurance Group, valued at approximately $142 million, giving it a 0.40% stake.
• Institutional investors own 93.42% of HIG, while analysts maintain an average “Hold” rating with a consensus price target of $149.67.
• The Hartford exceeded quarterly earnings expectations, reporting $3.42 EPS and $7.26 billion in revenue, and announced a quarterly dividend of $0.60 per share, yielding approximately 1.7% annually.

Caisse de depot et placement du Quebec bought a new stake in shares of The Hartford Insurance Group, Inc. (NYSE:HIG - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,071,717 shares of the insurance provider's stock, valued at approximately $142,024,000. Caisse de depot et placement du Quebec owned 0.40% of The Hartford Insurance Group at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Haven Private LLC lifted its stake in shares of The Hartford Insurance Group by 1.1% during the 4th quarter. Haven Private LLC now owns 6,751 shares of the insurance provider's stock worth $930,000 after acquiring an additional 71 shares during the last quarter. GW&K Investment Management LLC increased its stake in The Hartford Insurance Group by 40.3% in the fourth quarter. GW&K Investment Management LLC now owns 268 shares of the insurance provider's stock worth $37,000 after purchasing an additional 77 shares during the period. Kestra Advisory Services LLC increased its stake in The Hartford Insurance Group by 0.4% in the fourth quarter. Kestra Advisory Services LLC now owns 17,646 shares of the insurance provider's stock worth $2,432,000 after purchasing an additional 79 shares during the period. Koshinski Asset Management Inc. lifted its position in shares of The Hartford Insurance Group by 3.8% during the first quarter. Koshinski Asset Management Inc. now owns 2,253 shares of the insurance provider's stock worth $305,000 after purchasing an additional 82 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC lifted its position in shares of The Hartford Insurance Group by 0.7% during the fourth quarter. Castlekeep Investment Advisors LLC now owns 13,137 shares of the insurance provider's stock worth $1,810,000 after purchasing an additional 86 shares during the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Cantor Fitzgerald upped their price target on shares of The Hartford Insurance Group from $156.00 to $158.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Keefe, Bruyette & Woods lifted their price objective on shares of The Hartford Insurance Group from $143.00 to $144.00 and gave the company a "market perform" rating in a report on Tuesday, July 28th. Weiss Ratings reissued a "buy (b+)" rating on shares of The Hartford Insurance Group in a research report on Monday. Mizuho upped their target price on shares of The Hartford Insurance Group from $154.00 to $163.00 and gave the stock an "outperform" rating in a research note on Thursday, July 9th. Finally, Royal Bank Of Canada raised their target price on shares of The Hartford Insurance Group from $145.00 to $150.00 and gave the stock a "sector perform" rating in a research report on Monday, July 27th. Seven investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, The Hartford Insurance Group has an average rating of "Hold" and an average target price of $149.67.

The Hartford Insurance Group Stock Up 1.3%

The Hartford Insurance Group stock opened at $139.95 on Thursday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.23. The firm has a market cap of $37.91 billion, a P/E ratio of 9.05, a P/E/G ratio of 3.40 and a beta of 0.46. The business has a fifty day moving average of $138.10 and a two-hundred day moving average of $136.60. The Hartford Insurance Group, Inc. has a twelve month low of $120.33 and a twelve month high of $146.07.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $3.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.16 by $0.26. The business had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.17 billion. The Hartford Insurance Group had a return on equity of 21.66% and a net margin of 15.00%.The business's revenue was up 8.1% compared to the same quarter last year. During the same period last year, the business posted $3.41 EPS. On average, analysts forecast that The Hartford Insurance Group, Inc. will post 12.8 earnings per share for the current fiscal year.

The Hartford Insurance Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.7%. The ex-dividend date is Tuesday, September 1st. The Hartford Insurance Group's payout ratio is 15.51%.

The Hartford Insurance Group Profile

The Hartford Financial Services Group, commonly known as The Hartford, is a U.S.-based insurance and investment company that provides a broad range of commercial and personal insurance products and employee benefits. Its core businesses include property and casualty insurance for businesses and individuals, group benefits such as group life, disability and dental plans, and retirement and investment solutions offered through affiliated asset-management operations. The company also delivers risk management, claims-handling and loss-prevention services designed to support policyholders across a variety of industries.

Founded in Hartford, Connecticut, in 1810, The Hartford is one of the oldest insurance organizations in the United States and has a long history of underwriting and product development across multiple insurance lines.

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